Elevance Health (ELV) FY2017 results: revenue $90.0 billion, up 6.1% on the year
Elevance Health, Inc. (ELV) reported revenue of $90.0 billion for fiscal 2017, the year ended 31 December 2017, up 6.1% on the year before. Net income was $3.8 billion, up 55.6%, and diluted earnings per share $14.35. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2018.
Revenue
$90.0 billion
+6.1% on the year
FY2010FY2017
Operating margin
4.6%
5.7% a year earlier
FY2010FY2017
Net income
$3.8 billion
+55.6% on the year
FY2010FY2017
Diluted EPS
$14.35
+55.8% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
90,039
84,863
79,156
+6.1%
Cost of revenue
0.0
n/a
n/a
Gross profit
90,039
n/a
n/a
Gross margin
100.0%
n/a
n/a
Selling, general and administrative
12,650
12,558
12,535
+0.7%
Operating income
4,175
4,802
4,753
-13.0%
Operating margin
4.6%
5.7%
6.0%
Interest expense
739
723
653
+2.2%
Pre-tax income
3,964
4,555
4,631
-13.0%
Income tax
121
2,086
2,071
-94.2%
Effective tax rate
3.1%
45.8%
44.7%
Net income
3,843
2,470
2,560
+55.6%
Net margin
4.3%
2.9%
3.2%
Diluted EPS
$14.35
$9.21
$9.38
+55.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
4,185
3,270
4,212
+28.0%
Capital expenditure
791
584
638
+35.5%
Free cash flow
3,394
2,686
3,574
+26.3%
Free cash flow margin
3.8%
3.2%
4.5%
Cash from investing
-5,082
-514
-1,152
Cash from financing
427
-799
-3,093
Depreciation and amortisation
280
296
336
-5.5%
Share-based compensation
170
165
148
+3.0%
Buybacks
1,998
0.0
1,516
Dividends paid
705
684
657
+3.1%
Dividend per share
$2.70
$2.60
$2.50
+3.8%
Diluted shares, weighted
268m
268m
273m
-0.1%
Shares outstanding at period end
256m
264m
261m
-2.9%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
26,503
25,100
23,044
+5.6%
Debt
19,932
15,727
15,864
+26.7%
Other liabilities
24,105
24,256
22,809
-0.6%
Total liabilities and equity
70,540
65,083
61,718
+8.4%
Fixed assets
2,175
1,978
2,020
+10.0%
Goodwill
19,231
17,561
17,562
+9.5%
Intangible assets
8,368
7,965
8,158
+5.1%
Investments
17,938
17,688
17,478
+1.4%
Cash and equivalents
3,609
4,075
2,114
-11.4%
Other assets
19,218
15,816
14,386
+21.5%
Total assets
70,540
65,083
61,718
+8.4%
10-K for the year ended 31 December 2017, filed 21 February 2018: the filing.